I agree with what you're saying but I was talking about the SPY example listed above. The prospectus [0] for SPY says that it's not actively managed and that i

I agree with what you're saying but I was talking about the SPY example listed above. The prospectus [0] for SPY says that it's not actively managed and that it rebalances at least monthly. [0] https://www.spdrs.com/library-content/public/SPDR_500%20TRUST_PROSPECTUS.pdf https://www.spdrs.com/library-content/public/SPDR_500%20TRUS...